Tim Cook sells $3.6 million worth of Apple stock
After the recent transactions, Cook still owns 1,009,809 shares of Apple, valued at more than $121 million. But this is a well that will replenish as far as Cook is concerned. 700,000 RSUs will vest on August 24th, 2021. Five annual installments of performance based RSUs run through 2021.
While the stock sales this month were pre-arranged, they took place following the announcement that Cook received a pay cut of $1.5 million after Apple failed to meet certain goals for revenue during 2016. Last year, Apple reported consecutive quarters with a drop in iPhone sales on a year-over-year basis. Previously, Apple had never reported such a drop in revenue related to iPhone sales.
Check out the SEC form reporting the sales by clicking on the sourcelink below.
source: SEC via AppleInsider